UltraTech Cement Shares Dip as 100-MW Solar Project Commences

5 Apr 2024 , 01:08 PM

UltraTech Cement’s share price declined on April 5 following the commissioning of a 100-MW solar energy project. As of the latest update, UltraTech Cement’s stock was trading at ₹9,868.25, marking a decrease of 1.37% on the BSE.

The company announced the completion of the solar energy project in Rajasthan under the Group Captive scheme. With this addition, UltraTech Cement now has a renewable power capacity of 612 MW and a Waste Heat Recovery System (WHRS) capacity of 278 MW.

On April 2, the company also commissioned two greenfield projects in Chhattisgarh and Tamil Nadu, increasing its total capacity to 151.6 million tonnes per annum (mtpa).

UltraTech Cement plans to invest ₹32,400 Crore in capital expenditure over the next three years. This solar project marks the company’s first venture into sourcing power for captive consumption from the inter-state transmission network.

The power generated will serve UltraTech Cement’s units in Rajasthan, Gujarat, Himachal Pradesh, Tamil Nadu, Odisha, and other regions. UltraTech Cement Limited is India’s largest cement manufacturer, headquartered in Mumbai, with a global presence. It boasts an installed capacity of 151.90 million tonnes per annum and a sales volume of 105.71 million tonnes per annum.

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